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MTBS3D RT @GetImmersed: We’re moving to Silicon Valley! @IfcSummit November 5 & 6, 2019 at the Computer History Museum in Mountain View, CA. Call…
MTBS3D Julien Le Corre, Lead Developer at @InnerspaceVR , talked about their latest #VR escape room title The Corsair's Cu… https://t.co/uuOT6SG0NA
MTBS3D As fun as Arizona Sunshine is in traditional #VR, @Vertigo_Games took it up a notch by transforming it into a locat… https://t.co/YkGpv2wLMM
MTBS3D .@OfficialGDC would not be complete without visiting SVVR's annual #VR Mixer! In today's interview, we catch up wi… https://t.co/hibivrbYdq
MTBS3D Spencer Jackson, Software Engineer at @NordicTrack, talks about their latest iFit #VR Bike paired with an #HTCVivehttps://t.co/5b2uD9Hoa9
MTBS3D William Provancher is the CEO of @TacticalHaptics. He demonstrated their latest haptics controllers for us in this… https://t.co/Ir1Cog8bRI
MTBS3D Gaspar Ferreiro is the CEO of Project Ghost Studios. In this interview, he talks about their new Project Ghost dem… https://t.co/T2xz1VdtGI
MTBS3D .@EpicGames had loads of news to share at @OfficialGDC. Marc Petit is the General Manager of #Epic's @UnrealEnginehttps://t.co/CnqpGAB2f4
MTBS3D Chris Hook, Graphics & Visual Technologies Marketing Chief for @intel spoke to us during @OfficialGDC. We talked ab… https://t.co/ji6AKJpfwM
MTBS3D We interviewed @networknextinc at #GDC2019. They are in the business of ensuring the best connectivity and lowest l… https://t.co/87b06uMAm7
MTBS3D .@reality_clash is a developing #AugmentedReality combat game. We got to interview Tony Pearce, the CCO and Co-Fou… https://t.co/24P5kLz0Ef
MTBS3D Robots explode at #GDC2019 with @FuturLab. They have a new title for #PSVR called Mini Mech Mayhem. #GDC19https://t.co/JiIuJgGZ64
MTBS3D .@zerolatencyVR has a number of #VR out-of-home entertainment centers around the world, and we got to catch up with… https://t.co/NZJBVyRUWz
MTBS3D RT @GetImmersed: Dr. Ofer Shai is the Director of Omnia AI at @DeloitteCanada. He talked about the misconceptions about #ArtificialIntellig
MTBS3D RT @GetImmersed: The use of #futurecomputing in #healthcare was one of the prominent tracks at #Immersed2018, and we got to see some really…
MTBS3D RT @GetImmersed: Ricardo Wagner, Director of Product Marketing for #Office365 at @microsoftcanada, talked about their efforts to make moder…
MTBS3D RT @GetImmersed: Pascal Langlois, Founder of Collective Intent, talks about the potential of using motion capture technologies to re-enable…

Oculus VR Acquired by...Facebook?


MENLO PARK, CALIF. – March 25, 2014 – Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share).  The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.

Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company's virtual reality headset, the Oculus Rift. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas.  Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.

"Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow," said Facebook founder and CEO, Mark Zuckerberg. "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," said Brendan Iribe, co-founder and CEO of Oculus VR. "We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it's only just the beginning."

Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its ground-breaking virtual reality platform.

The transaction is expected to close in the second quarter of 2014.